Old Mutual Asset Management (Omam), a subsidiary of London-based investment company Old Mutual, is seeking to offload Dwight Asset Management Co., Reuters reports. Morgan Stanley is a banker to the transaction.
Dwight advises Omam’s three fixed-income funds, including the Old Mutual Dwight High Yield Fund and the Old Mutual Dwight Intermediate Fixed Income Fund, which altogether have $240 million in assets. The institutional fixed-income asset manager specializing in fixed-income and stable-value strategies had $45.3 billion in assets as on June 30.
Click here for the story from Reuters.